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In my analysis it will be less expensive for him to stay on employer sponsored coverage than going on Medicare. My understanding is that he could sign up for Part A but if he does he cannot contribute to his HSA.
Anyone have any insight on this, in general?
If your husband stays on his employer health care coverage after age 65, be sure his drug plan is a creditable plan. Not all employer plans are creditable. If not, he will pay a life time penalty when he eventually does sign up for medicare drug plan. Here is a link to an article that explains it.
https://www.mybenefitadvisor.com/articles/compliance/2024/q3/2025-part-d-changes-and-employer-sponsored-group-health-plans/
When the time comes that he signs up for Medicare, he will have to provide proof that his employer drug plan was creditable. This is really no big deal, but you will need to do it. Upon request, his health insurance company would send you a form showing they are a creditable drug plan.
United Health Care has an excellent overview of this subject. Here is a link https://www.uhc.com/news-articles/medicare-articles/should-i-get-part-b-if-im-working-past-65
since Medicare premiums can range anywhere from $185. to $628.90 depending on income, It may be less expensive to remain with his employer. A caveat…if you do enroll in Medicare at a later date, you may have to show proof of the fact that you and your husband were covered by his employer from age 65.
Social Security required this information from us.
Added: As Kathy and Dick indicated, check with employer about their ruling on Medicare enrollment.
I had retiree medical coverage when I turned 65 and my ex-employer required me to sign up for Medicare. As Dick says, he needs to check, and also check whether the coverage he has is “creditable” in Medicare terms. He may need proof of that when he does go on Medicare.
I suggest you read Medicare for Dummies 2025 by Patricia Barry. She is considered one of the most nationally prominent Medicare experts. She makes a complicated topic very easy to understand. I think everyone should read it on their 64th birthday.
Absolutely! It would also be worth scheduling a session with a SHIIP counselor – may have a different name in your state. Look up “senior health information program”, and avoid insurance agents.
Check with employer plan to be sure it doesn’t consider itself secondary in this case when Medicare is available. In which case you may no have a choice but to enroll in Medicare.